Blockforia.com, a Bulgarian cryptocurrency exchange, is announcing the go-live of its platform as 2022 comes to an end. The company reports that it will first begin “accepting customers in selected EU jurisdictions, while further expansion is expected to continue in 2023.”
Whilst expanding its global reach, the company itself and its day-to-day operations “will continue to be domiciled in Bulgaria.”
Blockforia is looking “to apply its KYC and AML procedures to all new customers.” The main markets are “set to be the EU, Canada and certain parts of Asia.” The Blockforia crypto exchange “supports all major credit and debit cards, whilst crypto wallets are provided free of charge.”
Due to its use of official e-ID solutions for KYC, users from supported jurisdictions “can set up accounts in under five minutes. Afterwards, they can start trading Bitcoin immediately.” Crypto funds are “held in safeguarded hot and cold wallets, on a strict 1-to-1 basis.”
As noted in the update, Bitcoin has “been in the limelight for over a decade now, rapidly expanding its scope of applications, and continuously rising in value.” On Jan. 8, 2021, Bitcoin hit a new milestone by surpassing $42,000 in value and then approached the $70,000 mark later in 2021. However, markets soon crashed and Bitcoin is now trading at around $17,000.
Now, only time will tell where markets move next, but “the inherent volatility of Bitcoin can prove profitable for exchanges like Blockforia.com, which earns the majority of its money on frenzy trading.”
As mentioned on its official website, Blockforia is a cryptocurrency exchange specializing in Bitcoin. They claim to “offer a safe and secure environment for buying and selling Bitcoin.”
Blockforia was “established in 2021 by an international team of Bitcoin technologists, lawyers and auditors.”
Their specialist founding team “ensures full regulatory compliance, including strict enforcement of routines and procedures relating to Know Your Customer (KYC), Anti Money Laundering (AML) and Counter-Terrorism Financing (CTF) measures.”
Blockforia holds “a license to buy and sell cryptocurrencies, including providing hot and cold wallet storage.” Positive client ID verification is “ensured through the use of a multitude of official electronic ID solutions.”
Thanks to the latest technology in security and encryption, trading on Blockforia.com is “a safe and hazzle free experience.”
Communication is end-to-end encrypted, “with several technical safeguards and mechanisms. We offer low transaction fees with VISA and MasterCard support in your local currency, ensuring swift fiat-to-crypto movement.”